Rodeo Realty agents Josh Flagg and Bobby Boyd plan to donate all commissions they earn in July to charities.
Flagg told The Real Deal that the client who pays a commission will choose the organization that receives the commission money and he expects most will choose coronavirus-related charities.
“Brokers, we make a lot of money so I thought let’s do something nice for healthcare workers or anyone that really needs it, people are going through a hard time so why not?” he said.
Flagg, who is a star on “Million Dollar Listing Los Angeles,” said he hoped to raise between $300,000 and $400,000 in July, but said there is no cap on the donations.
The coronavirus pandemic and local lockdown measures brought the residential market to near halt, but things are beginning to thaw. Nationally, applications to buy homes rose for the fourth-straight week last week.
L.A. seemed headed for a strong year before the pandemic hit. Deal volume is way down, but a paltry number of new listings has kept down inventory and buoyed pricing.
Flagg, who is married to Boyd, said that he believes business could remain slow through the November presidential election.
“Obviously it’s not that easy to show properties, I think people are lightening up a tad and everyone is trying to stay as busy as possible,” Flagg said.
Buyers and sellers vary in their willingness to shop or allow showings, he said. One seller in Beverly Hills wouldn’t even allow Flagg and his client to peek over a wall to see their backyard.